The Hindu Business Line : Nevis raises $12.5 m to promote security products

NEVIS Networks, an emerging provider of LAN (local area network) security systems, today announced the completion of a $12.5-million second round financing to prepare itself to launch products to address the growing problems of security from within the enterprises and various organisations.

The funding was made by New Enterprise Associates, a leading venture capital firm helping technology start-ups. With this Nevis has raised $32 million so far for its venture.

It got its first round funding from Vinod Dham-owned New Path Ventures and BlueRun Ventures after launching it company in 2002.

Headquartered in Silicon Valley, Nevis has its R&D and development centre in Pune as well.

The company hopes to release its product, which would be developed on its `Personal DMZ' technology, by the end of the year, said Mr Charles Dauber, President, CEO, Nevis Networks.

Mr Dauber told Business Line that with reports of leakage of information by insiders in BPO or other IT departments, internal security too had assumed equal importance like external threats.

He said Nevis was eyeing the market arising out of the $21 billion LAN Networking infrastructure market in the US alone, while India would be also be an important market.

The product would be targeted at enterprises, government departments and universities while verticals like health and insurance would be important markets.

Being a new product, which will be a chip-based software box, Nevis' marketing strategy would be to strike a partnership with the users and resellers to popularise it, Mr Dauber said.

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